VT Yankee Decommissioning Fund Drops - Again | Off Message

VT Yankee Decommissioning Fund Drops - Again

by

comment
radioactive_2.jpg

The downward spiral of the Vermont Yankee Decommissioning Fund continues.

As pointed out in this week's "Fair Game", the value of this set aside to clean up the Vermont Yankee nuclear power plant once it's shut has been dropping precipitously since the end of 2007.

Now, it's dropped down below $400 million for the first time in more than two years.

The Department of Public Service, which asked Entergy to provide the updated numbers, put together this chart:

March $391,882,501
$402,410,980
March $422,182,237
$440,003,672
March $427,406,446
Sept $397,035,937

The state is concerned about the fund's value in light of the steady slide in the stock market, and because Entergy is hoping to spin-off ownership of Vermont Yankee to a new company, Enexus, which will be heavily leveraged with debt. There is concern that if Enexus goes bankrupt that not enough money will be available to clean up the plant and that taxpayers would be on the hook to pay for decommissioning.

When Entergy bought the plant, the fund's value was roughly $304 million.

For more background on the estimated cost of decommissioning Vermont Yankee and why these numbers are important given Entergy's current plans for Vermont Yankee, check out this week's column.

Tags

Add a comment

Seven Days moderates comments in order to ensure a civil environment. Please treat the comments section as you would a town meeting, dinner party or classroom discussion. In other words, keep commenting classy! Read our guidelines...

Note: Comments are limited to 300 words.